Freight traffic through the Suez Canal decreased by 40% due to the military conflict in the Red Sea. This was reported by RIA News Citing Alexander Nadzharov, an analyst at the Center for Mediterranean Studies at the Higher School of Economics at the National Research University.
“The economic impact is already visible: Cargo traffic via Suez has fallen by 40%,” he noted.
According to him, seaborne imports to Europe have fallen to a lower level than during the coronavirus pandemic, and the cost of chartering ships has also increased.
Before that political commentator Andrei Perla reportedHe said a military conflict between the Houthis and the United States and its allies could cause serious economic damage to the West. He reminded that approximately 15 percent of all global cargo traffic passes through the Red Sea. According to the expert, if traffic on the Suez Canal is stopped or significantly restricted, there will be a serious economic crisis in Egypt at the first stage, and this transport corridor provides about 40% of GDP.
Formerly Houthis announced It concerns the intention to attack merchant shipping in the Red Sea every 12 hours.